Technical Analysis: GBP/USD

The pair is in a corrective mode, so we see the risks of an additional setback towards the...

The pair is in a corrective mode, so we see the risks of an additional setback towards the 1.5420 support, with a break below to extend losses towards the 1.5270 low. Only a daily close above the 50-Day SMA by 1.5770 would confirm the bullish bias and accelerate gains towards the 100-Day SMA by 1.5920 or the 200-Day SMA by 1.6080.

Edward Smith, technical analyst of company Admiral Markets.

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